Dear BritCham Members and our friends,
Yesterday, after many of you in Indonesia had retired for the night, the British Conservative government Chancellor announced an unprecedented £330bn package to support the economy, businesses large and small and individuals facing daunting circumstances.
These included grants, government backed loans and further relief to business costs. All this is in addition to the budget stimuli announced last week.
As you will know, I am UK-based for the interim and watched the media questioning live. It was clear that the various media was concerned that the various measures couldn’t land fast enough to save businesses with costs and no revenue that are facing a cash-flow crunch today - the Chancellor suggested that he needed until Monday to put mechanisms in place. He said that he had spoken to banks and they had assured him that they would be as flexible as possible with businesses in urgent trouble. They would treat the measures accessible on Monday as bankable. Individuals who are facing being laid-off or made redundant would be granted at least 3- months grace from mortgage lenders. There would be intensive talks with associations and unions to understand and agree how to get the best help to those whose employment security will be affected. Again, outcomes due next week.
The head of our umbrella BRITISH Chambers of Commerce in London responded on BBC TV in support of business and made the following media statement last night.
Responding to the package of government announcements to help businesses affected by Coronavirus, BCC Director General Dr Adam Marshall said:
“Businesses will welcome the scale of the Government's latest response, as well as the specific support it is offering to some of the worst-affected parts of our economy. These measures could be a lifeline for many businesses across the UK who are now experiencing wholesale disruption as a result of the pandemic.
“The key to the success of these measures is whether they get cash to businesses on the front line, fast. Companies need practical details, at great speed, for these interventions to have the desired impact, and to reassure firms across the UK.
“Both the Prime Minister and the Chancellor were clear that the Government would do whatever it takes over the coming days to support businesses, their employees, and the economy. Further measures will be needed to help all firms and their employees meet this unprecedented challenge.”
For details of the business support package: HERE
KITAS and DOCUMENTATION EXPIRIES
Many of our members have raised concerns about the possibility that their Indonesian documentation may need renewing while travel restrictions remain in place. We are pleased to offer an English translation of a February extraordinary law which is below. The bottom line is that there are facilities for emergency approvals and to process extensions without going overseas. HERE
It is not clear how the tweeted video clip message from HMA Owen Jenkins was distributed. Some saw the tweet. Others received via third parties and some didn’t seem to get sight at all. I have shared your comments with my colleague at DIT. Below is the clip and transcript. HERE
I will use Snapshots Extra to share news and anecdotal updates as relevant. Likewise, please share yours with me: email@example.com
Be sensible. Follow guidance. Be safe.